TABLE OF CONTENTS IMPORTANT FINANCIAL AID CHANGES 2 APPLYING FOR FINANCIAL AID 3 IMPORTANT FINANCIAL AID CHANGES _2

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1 TABLE OF CONTENTS IMPORTANT FINANCIAL AID CHANGES 2 APPLYING FOR FINANCIAL AID 3 IMPORTANT FINANCIAL AID CHANGES _2

2 NSU Financial Aid Guide IMPORTANT FINANCIAL AID CHANGES 2 APPLYING FOR FINANCIAL AID 3 STUDENTS RIGHTS AND RESPONSIBILITIES 4 TUITION AND MANDATORY FEES 4 Room Charges Board Charges FINANCIAL AID AWARDS 5 How Eligibility is Determined How Aid is Awarded Interpreting Your Award Letter How to Find Your Financial Aid Award on MyNSU What to Do Now Sample Award Letter AFTER THE FINANCIAL AID OFFER 9 Receiving Your Financial Aid Private Scholarship Checks SCHOLARSHIPS 10 Institutional Scholarships External Scholarships Scholarship Scams WORK-STUDY 11 LOANS 12 Federal Direct Loans Direct Subsidized/Unsubsidized Loan Limits Direct Subsidized/Unsubsidized Loan Repayment Plans Federal Perkins Loan PLUS & Graduate PLUS Private Alternative Student Loans Entrance Counseling and Master Promissory Note Exit Counseling Applying for 2016 Summer Aid Study Abroad REAPPLYING FOR FINANCIAL AID 15 SATISFACTORY ACADEMIC PROGRESS (SAP) POLICY 16 Reclamation Project and Financial Aid Eligibility Financial Aid Appeals Process Requirement to Reinstate Financial Aid WITHDRAWAL INFORMATION MAJOR FINANCIAL AID PROGRAMS 19 NORFOLK STATE EMERGENCY STUDENT LOAN PROGRAM 20 FINANCIAL AID OFFICE IMPORTANT DATES 21 FINANCIAL AID OFFICE CONTACT INFORMATION 22 For more Financial Aid information, please visit nsu.edu/financialaid. SUBJECT TO CHANGE: Because of the nature of federal, state, and institutional guidelines affecting financial aid programs, the information contained in this publication is subject to change.

3 NSU Financial Aid Guide IMPORTANT FINANCIAL AID CHANGES 1. Pell Grant Eligibility The Federal Pell Grant maximum award for is $5,775 with the minimum scheduled award amount being $588. This is an increase of $45 from the $5,730 maximum Pell Grant award for the award year. 2. Maximum Eligibility Period to Receive Federal Direct Subsidized Loans - Beginning July 1, 2013, first-time Direct Subsidized borrowers have a limit on the amount of Subsidized Loans they can borrow. New borrowers can only receive Subsidized Loans for 150% of the published length of their program. For additional information, (Click here). 3. Qualifying Income for Automatic Zero (0) Effective Family Contribution (EFC) - Based upon the information provided on the FAFSA, an EFC is calculated. The automatic EFC income threshold for parents of dependent students and for independent students with spouses, remains at $24,000 or less. Independent students without dependents other than a spouse cannot receive an automatic EFC. 4. Satisfactory Academic Progress (SAP) Appeal - Students at NSU must maintain SAP while taking courses toward their degree. Students who desire to appeal their denial of financial aid due to not meeting SAP requirements must submit a complete SAP packet, which includes an academic plan. This academic plan will be a contractual agreement to meet the entailed progress requirements. Students will confer with their academic advisor to complete and sign the academic plan, along with a copy of their Advisor transcript. Students must also submit a sap appeal application and supporting documentation of extenuating circumstances. 5. Retaking Coursework - Federal regulations limit eligibility for Title IV federal aid due to repeated courses. Students may only receive Title IV federal aid for the first retake of a previously passed course. In addition, any subsequent retakes (after the first retake) of a previously passed course will not count towards the student s actual enrollment for Title IV funding purposes. 6. FAFSA Process - All students completing the FAFSA are strongly encouraged to utilize the IRS Data Retrieval Tool (DRT). The U.S. Department of Education has streamlined FAFSA processing by providing students and parents of dependent students only, who indicated they have filed a federal tax return with a link that will direct applicants to use the IRS DRT. Students and parents who indicate. Students selected for verification (The process where NSU confirms the information reported on the FAFSA is accurate) will not be required to provide a tax return transcript from the IRS if the DRT is used. 7. Same sex marriage on the FAFSA In compliance with the Supreme Court decision regarding section three of the Defense of Marriage Act (DOMA), same sex couples must report their marital status as married if they were legally married in a state or foreign country, without regard to where the couple resides or where the student will be attending school. This rule applies to all FAFSAs submitted on or after December 13, Federal Direct Loans Fees Increase Direct Subsidized, Direct Unsubsidized, and Direct PLUS loan fees will decrease for loans made on or after October 1, The loan fee for Direct Subsidized Loans and for Direct Unsubsidized Loans will be 1.068%. The loan fee for Direct PLUS Loans (for both parent borrowers and graduate/professional borrowers) will be 4.272%. Note that the above changes are not all-inclusive, and are meant to provide a brief summary of current Federal Department of Education Regulations. Contact the Financial Aid Office regarding specific questions or concerns.

4 NSU Financial Aid Guide 3 APPLYING FOR FINANCIAL AID Norfolk State University s Federal School Code: The most important step in the financial aid process is to apply using the Free Application for Federal Student Aid (FAFSA). This form can be completed online at fafsa.ed.gov and should be submitted as soon as possible after January 1. In order to electronically sign and submit the FAFSA, the student and parent must have a Personal Identification Number (PIN). The PIN serves as an electronic signature. First time applicants or those who do not have a PIN can apply for one by linking from the FAFSA site to pin.ed.gov. Once a PIN has been issued, it remains the same throughout the student s collegiate career. For more information on the FAFSA process, you may call The NSU priority deadline for completing the FAFSA is March 15th. Financial aid is awarded on an annual basis. Students must complete the FAFSA each year in order to be considered for financial aid. Once the FAFSA is received and processed, the Department of Education will provide the applicant with a Student Aid Report (SAR). NSU will receive an electronic copy of this statement. This report will include the student s Expected Family Contribution (EFC). The EFC is calculated using a standard formula established by Congress, and is used as a measure of a family s financial ability to contribute to educational expenses. The Financial Aid Office will use this number to construct your financial aid package. The Department of Education and/or NSU may select students for a process called verification. This means selected students will have to prove the information they reported on their FAFSA is correct. If selected, students may be asked to verify income, federal income tax paid, household size, independent student status, number of family members enrolled in post-secondary education, and untaxed income and benefits received. Students may be required to provide copies of other appropriate forms as well. Students who are selected for verification will be notified by the Financial Aid Office. To prevent delays in processing, promptly provide any additional documentation that is requested. After all requested documents have been received and reviewed, a personalized financial aid package is created and an award letter will be mailed to the student. Sometimes the application process does not reflect a family s real situation due to special circumstances such as death, divorce or separation, disability, loss of employment, natural disasters, etc. In such a case, Financial Aid Counselors may use their professional judgment. Please notify us if you feel that there are special circumstances we should consider when reviewing your application. SPECIAL CIRCUMSTANCES The Financial Aid Office recognizes that students and families may experience special circumstances that affect their ability to pay college costs. A professional judgement is a one-time occurrence for the academic year unless a new situation arises. If you feel that your family has a special circumstance, please contact the Financial Aid Office immediately. Circumstances that will be considered include the following in case we may need other documents: Loss of income (wages, benefits, etc.) High medical or dental expenses not covered by insurance Unreimbursed elementary or secondary private school tuition for children with special needs Unusually high child care costs Note: Applying for federal aid is FREE. If you need assistance completing the FAFSA, we have Financial Aid Counselors that can assist you.

5 NSU Financial Aid Guide 4 STUDENTS RIGHTS AND RESPONSIBILITIES Your Rights Understanding what type of financial assistance is available, including information on federal, state, and institutional financial aid programs. Understanding what criteria are used to select financial aid recipients and what the deadlines are for submitting an application. How financial need is determined. The process includes how costs for tuition and fees, room and board, books and supplies, personal and miscellaneous expenses, etc. are considered in a budget. An explanation of the various funds in their financial aid package. What portion of the aid received must be repaid and what portion is grant aid. To know the terms and conditions of any loans, employment, scholarships, or grant aid you receive. To know how and when disbursement of financial aid is made, as well as the University's refund policy for any overpayment of Title IV student assistance programs. How academic progress is determined and what happens if you are not making satisfactory academic progress. Your Responsibilities Read all materials sent to you from the Financial Aid Office and other awarding agencies. Read, understand, and keep copies of all forms you sign. Complete and submit verification materials within the required or recommended time frame. Comply with the provisions of any promissory note and all other agreements you sign. Complete the registration process each semester by the pre-registration date to ensure the correct amount of financial aid has been awarded and will be disbursed. Use aid only for educational expenses related to attending Norfolk State University. Know the financial aid implications of dropping a course or withdrawing from the University. Maintain satisfactory academic progress. Keep your local and permanent addresses current with the Registrar Office. Report outside scholarships awarded to the Financial Aid Office. STUDENT ACCOUNTS OFFICE The Student Accounts Office is the general billing and collections office for student tuition, course fees, room and board and other educational related fees. This department is also responsible for the posting of employee tuition benefits, the billing of third party contract accounts, Spartan card authorizations, and refunds. There are individual account representatives to assist you and answer your questions. Tuition & Fees Schedule Academic Year (For pdf version of Tuition and Fees schedule, please click here) Estimated Cost to Attend NSU for (per semester) In-State Out-of-State Tuition (15 Undergrad Cr. Hrs.) $ 2,268 $ 8,460 Mandatory Fees (15 Undergrad Cr. Hrs.) 1,508 1,508 Capital Outlay Fee (15 Undergrad Cr. Hrs.) Not Applicable 380 Room (Double Room in Twin Towers) 2,787 2,787 Board (14 Meal Plan) 1,525 1,525 Total Cost $ 8,088 $ 14,660

6 NSU Financial Aid Guide 5 FINANCIAL AID AWARDS How Eligibility is Determined Financial aid programs were created based on the idea that the primary responsibility of paying for college rests with the student and his or her family. Need-based financial aid is available to families that demonstrate a financial need for additional resources. The formula below is used to determine how much financial need a student has: Cost of Attendance - Expected Family Contribution (EFC) = Financial Need Cost of Attendance is the estimated cost of attending Norfolk State University for an entire academic year (two semesters Fall and Spring). This figure includes estimated amounts for tuition and fees, books and supplies, room and board, and personal/miscellaneous expenses. Expected Family Contribution (EFC) is the amount of your family s financial resources that should be available to help you pay for your education. It is calculated from the information you reported on the Free Application for Federal Student Aid (FAFSA) and according to a formula established by law. How Aid is Awarded Your need for financial aid is calculated based on the total Financial Aid Cost of Attendance minus your EFC. In order to meet your need, the Financial Aid Office first awards any federal and state grants and scholarships for which you are eligible (i.e. Pell Grants, Commonwealth Grants). If funds are available at the time of awarding, Work-Study is then added to your aid package. Federal Direct Loans are also added to your aid package. The Financial Aid Office attempts to award grants, loans, and work-study funds equitably among all eligible applicants who apply by the priority deadline. Award amounts are determined by a combination of financial need, federal award limits, and available funding. If federal and state grants, scholarships, work-study and loans are not enough to cover the gap between the cost of attendance and the EFC, Federal Perkins Loan and Federal Supplemental Educational Opportunity Grant (FSEOG) monies may be added to the award package. Because FSEOG funds are limited, they are awarded only to applicants with the most need. Interpreting Your Award Letter Be sure to read both pages of your award letter carefully. The letter can be divided into the following sections: Awards: This section lists the financial aid awards you are being offered based on your financial need, enrollment status, class level and residency. A chart listing NSU s major financial aid programs is located under Financial Aid Programs on page 19. Cost of Attendance (COA): The ESTIMATED total cost of attending NSU for one year. The Financial Aid COA is determined annually and includes direct educational costs (e.g. tuition and fees, books and supplies) and living expenses (e.g. room and board, transportation, personal and miscellaneous expenses). Financial aid can be applied toward direct educational costs as well as living expenses. This is the COA that Financial Aid uses to determine a student s eligibility and not the actual cost to attend NSU. Residency: Your residency classification is determined based on the information you provided on your Admissions application. If you have questions about your residency status, contact the Admissions Office at Class Level: Class level is based on information received from the Registrar Office. If you have questions about your status, please contact the Registrar s Office at Enrollment: The amount of aid awarded is based on a projected full-time enrollment status (12 or more hours for undergraduate students, and 9 or more hours for graduate students) for each term. NOTE: Certain types of aid are only available if enrolled full-time. Financial aid may be adjusted or cancelled if enrolled less than full-time. Please refer to the enrollment chart on page 16 under the heading Enrollment Status.

7 NSU Financial Aid Guide 6 FINANCIAL AID AWARDS CONT. How to Find Your Award on MyNSU Use the Financial Aid Status by Year/Term and View Financial Aid Award Letter options to display your financial aid information. Use the My Account Summary by Term option to display your financial information. Remember: Financial Aid remaining amounts are based on conditions of your enrollment and eligible charges, and are subject to change. What to Do Now Carefully read your award letter and this publication for information about the awards you have been offered and how your award package was determined. Then: If you accept all awards offered, retain your award letter for your records. There is no need to return the letter to the Financial Aid Office. If you wish to decline or reduce any of your awards, please mark through the amount you have been offered and write the new amount next to it. Please initial your corrections, then sign the back of the award letter and mail or fax the document to our office. Notify our office of any additional aid awards (i.e., scholarships, third party, veteran s benefits, etc.) you are receiving that are not listed on your award letter. There is a section provided on the back of your award letter for you to do this. Please mail or fax the updated award letter to our office. If your aid is adjusted at any time, you will be notified by NSU that you have a revised award letter available on MyNSU. Check your and the My Documents section of MyNSU. Respond to any requests for additional information immediately. Read the section on loans, beginning on page 12 of the Financial Aid Consumer Guide.

8 NSU Financial Aid Guide 7 Office of Financial Aid Student Services Center, Suite 211, Norfolk, Virginia Telephone: Fax: financialaid@nsu.edu Web: May 8, 2015 NSU Student 700 Park Avenue Norfolk, VA ****FINAL FINANCIAL AID AWARD NOTIFICATION LETTER**** Sample Dear NSU Student: Student ID: 0XXXXXX Congratulations! The Financial Aid Office at Norfolk State University has completed an evaluation of your application for financial aid during the academic year. We considered you for Federal, State, and NSU funding. Most offers below are based upon information you provided on the Free Application for Federal Student Aid (FAFSA), residency status, program status, class level, and availability of funds. Your individual financial aid package for the academic year is as follows: Financial Aid Offer Fall 2015 Spring 2016 Summer 2016 Total Federal Pell Grant $ $ $ Ford Subsidized Loan $ $ $ Ford Unsubsidized Loan $ $ $ Outside Scholarship $ $ $ Subtotal $ $ $ Federal Work-Study $ $ $ Total $ *Tuition and Fees: 4183 Residency State: VA Class Level: JR Student Eligibility Criteria *The estimated cost to attend NSU Includes tuition, fees, housing, books, supplies and personal expenses. To view the estimated cost to attend NSU, please visit nsu.edu/financialaid online and select the NSU Cost of Attendance link. To calculate an estimate of the average NSU price of attendance, select the Net Price Calculator link at nsu.edu/financialaid. Before accepting any financial aid offers, especially student loans, (which must be repaid), it is important that you read the NSU Financial Aid Consumer Information Guide at nsu.edu/financialaid. This brochure contains additional financial assistance information, along with your rights and responsibilities as a financial aid recipient. If offered, student loans may be accepted or rejected. You may visit nsu.edu/mynsu/index to accept or reject the loan amount(s). If you accept all offers, retain this award notification letter for your records. (There is no need to return the letter to the Financial Aid Office). Complete the Student Loan Entrance Counseling and Master Promissory Note Online. First-time student loan borrowers must complete Entrance Counseling and the Direct Loan Master Promissory Note (MPN). To complete Entrance Counseling online, go to studentloans.gov and select the Entrance Counseling link. To complete the MPN online, go to studentloans.gov and select the Complete New MPN for Student Loans link. You must have your PIN to complete the electronic MPN. If you are accepting student loans, please have your Loan Entrance Counseling and Master Promissory Note completed by the second week of classes. Revisions to this offer will generate an correspondence to your NSU address. Please check MyNSU regularly at nsu.edu/mynsu/index for communications from the University. If you have questions regarding financial aid, there are several options: 1) Visit our website at 2) Speak to a Financial Aid staff member in Suite 211 of the Student Services Center; 3) Send an to FinancialAid@nsu.edu; or 4) Contact us by telephone at or Best wishes for your success during the upcoming academic year. Kevin Burns, Director of Financial Aid Norfolk State University - An Equal Opportunity Employer

9 NSU Financial Aid Guide 8 Office of Financial Aid Student Services Center, Suite 211, Norfolk, Virginia Telephone: Fax: financialaid@nsu.edu Web: Financial Aid Acceptance Agreement ** NOTE: KEEP THIS LETTER FOR REFERENCE IF NO CHANGES WERE MADE** I acknowledge that I have read the Financial Aid Consumer Information Guide. I certify that, as of the date of this statement, information about my dependency status, number of family members in my household, and number of family members attending college has not changed since I completed the FAFSA. (This excludes changes resulting from a change in marital status.) I understand that I must promptly provide written notification to the Financial Aid Office if there are changes to: My dependency status and/or number of family members in my household My financial, residential, marital, or academic status Any other information that I believe may affect my eligibility to receive federal or state financial aid I certify that my student identification number listed on my final financial aid award notification le tter is correct. I understand the following: I must maintain Satisfactory Academic Progress (SAP), as defined in the NSU Catalog, to be eligible to receive financial aid. My financial aid is only for the academic year indicated, and that I must reapply for financial aid each year. This offer may be revised at any time subject to availability of funds, federal appropriations, and/or state allocations. Receiving additional funds from any other source may result in my current awards being reduced or cancelled. I am required to repay any balance due as a result of my awards being adjusted and that payment will be due immediately. If I receive any grant or scholarship funds that exceed the cost of tuition, fees, books and supplies, I may incur federal and/or state tax obligations. I have accurately listed below all additional financial resources I will receive during the academic year indicated on this form. My Financial Aid award may be adjusted if I am not registered as a Full Time Student (12 hours for Undergraduate/9 hours Graduate). I accept responsibility for repaying my loans. Statement of Educational Purpose: I will use all proceeds from federal, state, or institutional loans, grants, or work-study programs only for expenses related to my enrollment at Norfolk State University. I certify that I do not owe a refund on any federal student financial aid grant or loan, am not in default on any such loan (or have made satisfactory arrangements to repay any defaulted loan), and have not borrowed in excess of the loan limits under federal Title IV programs at any institution. Additional Resources Received: Source of Additional Resources:

10 NSU Financial Aid Guide 9 AFTER THE FINANCIAL AID OFFER RECEIVING YOUR FINANCIAL AID (Disbursement) Grants, scholarships, and loans administered by the Financial Aid Office are first applied directly to your University student account to pay charges for tuition, fees, room, board, and other university charges. Financial aid awarded for a specific term can only pay for charges for that same term. Students whose financial aid exceeds the charges on their university student account will receive a refund to pay other educationally related expenses. You may choose to have your refund deposited directly to your personal bank account. If you do not choose this option, the refund (in the form of a check) will be available for you to pick up. The Student Accounts Office will you to let you know when your refund check is available and where it can be picked up. Make sure to check your NSU account daily for this information. Changes to a student s FAFSA data after awarding may result in a reduction and/or cancellation of aid. In addition, the Department of Education may push updated FAFSA data that may result in a reduction and/or cancellation in a student s financial aid award. PRIVATE SCHOLARSHIP CHECKS If your scholarship check is sent to the University, it will be directly applied to your university student account, one-half for the fall term and one-half for the spring term, unless otherwise specified by the scholarship provider. If the payment creates a credit balance on your university student account, the credit will be refunded to you either by check or by direct deposit to your bank account (see above). If your scholarship check is sent directly to you, but is payable to the University, you should submit the check to the Financial Aid Office for processing. If your scholarship check is sent directly to you, and it is made co-payable to you and the University, endorse the check and submit it to the Financial Aid Office. If your check is sent to you and made payable to you, it is your responsibility to report this resource to the Financial Aid Office and to apply any funds necessary to your university student account. Receipt of additional scholarships may or may not cause a reduction of other aid types.

11 NSU Financial Aid Guide 10 SCHOLARSHIPS While every attempt is made to meet a student s financial need, funds are limited and a student may require additional funds to cover their expenses. Students who require additional funds may wish to first consider applying for institutional and external scholarships: Institutional Scholarships The Institutional Scholarship Guide has been prepared to apprise students of various scholarship opportunities available. Institutional scholarships are provided by the various schools and departments on campus. We encourage you to apply early and adhere to the scholarship application deadlines. Applications can be obtained from the contact person/department listed in the Institutional Scholarship Guide. Check for institutional scholarships online at nsu.edu/financialaid/scholarship-guide. External Scholarships External scholarship information has been prepared to apprise students of various outside scholarship opportunities. External scholarships are provided by various offcampus agencies and organizations. We encourage you to apply early and adhere to the scholarship application deadlines. Applications for these external scholarships can be obtained by visiting agencies websites. Check for external scholarships online at nsu.edu/financialaid/scholarships. There are many private entities that offer scholarship search services, but these services are not assessed by the Department of Education. When using these services, it is recommended that you contact the Better Business Bureau or your state attorney general s office to check the provider s credibility. You can search for free scholarships at studentaid.ed.gov/types/grants-scholarships/finding-scholarship. Some telltale signs of a scholarship scam are: If it states, The scholarship is guaranteed or your money back. If it states, You can t get this information anywhere else. If it asks for your credit card or bank account information. If it states, you are a finalist in a contest that you never entered. If it indicates that you have been selected by a national foundation to receive a scholarship. SCHOLARSHIP SCAM - WHEN SEARCHING FOR FINANCIAL ASSISTANCE BE AWARE OF SCHOLARSHIP FRAUD.

12 NSU Financial Aid Guide 11 WORK-STUDY Work-Study provides eligible students another means of meeting their financial obligations to the University. It is a beneficial program that allows students to gain valuable experience and networking opportunities. The Work-Study Programs allows eligible students to be awarded either federal, institutional or Virginia Work-Study. Institutional and Virginia Work-Study excludes employment in certain departments, such as Athletics, Housing, Student Activities, Parking, Fitness Center, and Band. Eligible work-study students may also work in community service jobs. An award of work-study means you can compete for the advertised jobs online. It is not a guarantee of a work-study position. Jobs are limited. For a current listing of vacant Federal, Institutional and Virginia Work-Study positions available, please visit: nsu.edu/financial-aid/work-study-jobs and click on the View the Available Work-Study Positions link. Eligible students must: Complete the Free Application for Federal Student Aid (FAFSA) for the current academic year. Be enrolled at least half-time in a degree-seeking program (6 or more credit hours); If you drop below 6 credit hours, please contact the Financial Aid Office immediately. Demonstrate financial need. Must have a cumulative GPA respective of academic classification. Freshman 1.7 Sophomores 1.8 Juniors & Seniors 2.0 Graduate Students 3.0 Note: International, DNIMAS students, and resident assistants are not eligible for Work-Study. Students may work up to 20 hours per week and no more than 6 hours in a day. The rate of pay is based on job duties. The rate of pay for a job is indicated on the job site and rates range between $7.50 and $9.00 per hour. Direct deposit is highly recommended. The total number of hours a student is authorized to work for the entire fall or spring semester is indicated on the first timesheet and hours remaining on each timesheet thereafter. It is the student s responsibility to keep up with their hours. Students earnings should not exceed the initial award amount.

13 NSU Financial Aid Guide 12 LOANS Federal Direct Loans Federal Direct Loans are for undergraduate and graduate students. There are two major types of Federal Direct Loans: Subsidized and Unsubsidized. Subsidized Federal Direct Loans provide low interest rates and are available to students who have financial need. A credit check is not required to receive these loans. The federal government pays the interest on these loans until six months after the student is no longer enrolled in school at least half-time. Unsubsidized Federal Direct Loans provide low interest rates and are available to all students regardless of financial need. A credit check is not required to receive these loans. The student is responsible for the interest, which may be paid while the student is in school or accrued and then added to the principal balance when the student enters repayment. Repayment begins six months after the student is no longer enrolled in school at least half-time. Federal Direct Loan Fees Federal Direct Loan awards have origination fees. Subsidized and Unsubsidized Direct Loans have a 1.073% origination fee with a 0% rebate if the first 12 monthly payments are made on time. Because of these fees, the actual Direct Loan amounts applied to your university bill will be lower than those listed on your award notice. The interest for undergraduate Direct Subsidized and Unsubsidized Loan is 4.66%. Graduate students are not eligible for Direct Subsidized loans. The interest rate for Direct Unsubsidized loans is 6.21% and for Direct plus 7.21%. Direct Subsidized/Unsubsidized Loan Limits The following chart provides maximum annual and aggregate (total) loan limits for subsidized and unsubsidized Federal Direct loans. Classification 1 st Year (Freshmen) 2 nd Year (Sophomores) 3 rd Year and beyond (Juniors & Seniors) Maximum Total Debt Dependent Undergraduate Students $5,500 (no more than $3,500 subsidized) $6,500 (no more than $4,500 subsidized) $7,500 (no more than $5,500 subsidized) $31,000 (no more than $23,000 subsidized) Independent Undergraduate Students $9,500 (no more than $3,500 subsidized) $10,500 (no more than $4,500 subsidized) $12,500 (no more than $5,500 subsidized) $57,500 (no more than $23,000 subsidized) Graduate/Professional Degree Students $20,500 (Unsubsidized) $138,500 (Unsubsidized) Direct Subsidized/Unsubsidized Loan Repayment Plans There are several options students can choose from when it comes time to start repayment. These plans allow students to easily transition into repayment and allow them to select a plan that fits their financial situation. Typically, students have 10 to 25 years to repay their loan, depending on which repayment plan they choose. During repayment, students may be able to change to another plan. Below is an example of the various plans available to a student entering repayment.

14 NSU Financial Aid Guide 13 LOANS CONT. For more information on Loan Repayment Plans and Calculators visit: studentaid.gov FEDERAL PERKINS LOAN Federal Perkins loans are awarded to undergraduate and graduate students with exceptional financial need. It is a subsidized loan with the interest being paid by the federal government until six months after the student is no longer enrolled in school at least half-time. The interest rate for these loans is 5%. PARENT PLUS & GRADUATE PLUS LOANS Parents and graduate students who wish to apply for the PLUS or Graduate PLUS loan must go through a credit check AND complete a William D. Ford Direct Loan Master Promissory Note. Graduate students and parents of dependent students MUST go to the website studentloans.gov to complete this process. You will need your FAFSA PIN number. NOTE: If a parent and/or guardian of a dependent student receives a denial notice from the Federal Direct Loan Program for the PLUS loan, the student may request and receive a Federal Direct Unsubsidized Loan, if the student is otherwise eligible. PRIVATE ALTERNATIVE STUDENT LOANS The Private Alternative Loan application may be completed by the student. These loans are also creditbased and the approval criteria are established by the lender. If the loan is approved by the lender, NSU will electronically receive the Loan Certification request. For more information and to view a listing of possible lenders, visit nsu.edu/financial-aid/private-loans. ENTRANCE COUNSELING AND MASTER PROMISSORY NOTE Students who accept and borrow money through the Federal Direct Student Loan Program(s) are required to complete mandatory online Entrance Counseling and their Master Promissory (MPN) note before loans can be disbursed. The purpose of the Entrance Counseling is to provide students with information regarding their rights and responsibilities and the commitment that comes with the acceptance of a student loan. To complete the Entrance Counseling and MPN, go to studentloans.gov and click Entrance Counseling, and click on complete MPN. You must have your Federal PIN to complete this process.

15 NSU Financial Aid Guide 14 LOANS CONT. EXIT COUNSELING All student loan borrowers, prior to leaving Norfolk State University, either by graduating, withdrawing, or failing to return for a subsequent semester are required by federal law to complete Exit Counseling on the web at studentloans.gov. Student borrowers must complete Exit Counseling to obtain their diploma or an official transcript from the University Registrar s Office. Exit Counseling provides students with the necessary information and tools to effectively move towards successful repayment of your Federal Direct Student Loans. Federal regulations state that you must complete Debt Counseling and Default Management before you exit the University. APPLYING FOR 2016 SUMMER AID A separate application is required to receive financial aid for the summer This application will be available April 1 and is due to the Financial Aid Office by early May. Summer 2016 financial aid is calculated based on your FAFSA. Summer financial aid is dependent upon the availability of funds and remaining student eligibility requirements. STUDY ABROAD PROGRAM Students considering study abroad must contact the International Studies and Service Learning (ISL) Department at NSU. If you enroll in a Norfolk State University-sponsored Study Abroad Program, you may apply for financial aid (and be considered for all programs except Work-Study) through the Financial Aid Office. Depending upon the cost of the study abroad program in which you enroll, we may or may not be able to meet your full-demonstrated financial need to attend the program.

16 NSU Financial Aid Guide 15 REAPPLYING FOR FINANCIAL AID To reapply for federal financial aid for the school year, you will first need to complete the Free Application for Federal Student Aid (FAFSA). NSU s priority deadline for completing this form is March 15. Applications received after March 15 will still be processed; however, financial aid is awarded on a first-come, first-serve basis; therefore, it is to your benefit to meet the priority deadline. Once the FAFSA is received by the Financial Aid Office, processing starts immediately. Students whose applications are not selected for verification will receive a tentative award letter letting them know how much financial aid they can expect to receive. Students whose applications are selected for verification must respond to the request for additional documents in a timely manner to ensure they receive the maximum amount of financial aid. To see if the Financial Aid Office is requesting any additional documents from you, please log on to your MyNSU account and click on My Documents. If you are unable to log on to your account contact OIT at (757) Any other questions regarding your documents, please notify the Financial Aid Office..

17 NSU Financial Aid Guide 16 SATISFACTORY ACADEMIC PROGRESS (SAP) Norfolk State University is required by federal regulations to adhere to minimum standards of Satisfactory Academic Progress (SAP) that relate to a student s eligibility for federally funded financial aid programs, state and institutional grants, scholarships, employment, and loan programs. Students must meet minimum SAP standards in order to receive and to maintain eligibility for Title IV funds. The SAP standards apply to all students in degree-seeking programs of study who wish to be considered for financial aid. SAP is a qualitative as well as a quantitative measurement of courses attempted and courses completed. Academic Level Requirements Completed hours must equal 67% of hours attempted to meet SAP standards. (For example: you must pass 11 credit hours out of 15 credit hours attempted) Students must not exceed 150% of attempted credit hours required to complete the program of study. Students must maintain a certain cumulative grade point average by advancing to the next academic classification level. Failure to maintain the minimum cumulative grade point average will result in the cancellation of financial assistance or denial of financial assistance. The minimum grade point average for each classification level is indicated below: Academic Classification Level Total Credit Hours Earned Cumulative Grade Point Average Freshmen Less than or higher Sophomores credit hours 1.8 or higher Juniors credit hours 2.0 or higher Seniors 90 or more credit hours 2.0 or higher Graduate Students XXXXXXXXX 3.0 or higher These minimum standards are required in order to be considered for all federal, state, or institutional financial assistance. Aid will be terminated for any student who does not maintain the minimum standard. Enrollment Status For financial aid purposes, enrollment status is based on the following listed information: No. of Credit Hours Undergraduate Graduate 12 or more hours Full-time Full-time 9 to 11 hours Three-Quarter time Full-time 6 to 8 hours Half-time Half-time 1 to 5 hours Less than Half-time Less than Half-time Enrollment status is based on the number of credit hours for which students enroll for each academic term. Undergraduate and Graduate students may be considered for financial assistance based on the number of credit hours enrolled for each term. If enrolled less than full-time, aid may be pro-rated based on reduced cost of attendance. If enrolled less than half-time, only undergraduate students with Pell eligibility may be considered for assistance. As mandated by U.S. Department of Education policy, only courses required for a student s degree can be used in determining their enrollment status for financial aid purposes. In addition, federal student aid regulations permit only one repetition of a previously passed course in determining enrollment status for financial aid purposes.

18 NSU Financial Aid Guide 17 SATISFACTORY ACADEMIC PROGRESS (SAP) CONT. RECLAMATION PROJECT AND FINANCIAL AID ELIGIBILITY The Reclamation Project is designed to facilitate the continuing education and the subsequent graduation of Norfolk State University students who have left the institution prior to earning their degree. ACCEPTANCE INTO THE RECLAMATION PROGRAM IS NOT FINANCIAL AID FORGIVENESS It is important to understand that an integral part of the Reclamation Project is forgiveness of previously earned deficient grades and not forgiveness in enrolling in the course. Therefore, the SAP process includes all courses attempted and completed. This calculation may mean that some reclamation students will not qualify for financial aid. Students that come back under the Reclamation Project normally must pay for their classes. To appeal a SAP decision, please follow the procedures outlined in the Financial Aid Appeals Process. FINANCIAL AID APPEALS PROCESS To appeal a denial of financial aid, the student must submit a completed application for Financial Aid SAP Appeal, Advisor Transcript, supporting documentation of extenuating circumstances, and an Academic Plan signed by both the student and their academic advisor. In Person: Financial Aid Appeals Committee Student Services Center, Suite 211 Via Mail: Financial Aid Appeals Committee Norfolk State University Student Services Center, Suite Park Avenue Norfolk, VA Via Fax: Please include the student's name and ID number on all documents. The appeals deadline is one month prior to the start of the term. The Financial Aid Appeals Committee will notify students of the appeals decision via . REQUIREMENT TO REINSTATE ASSISTANCE In order to regain financial aid eligibility, students must enroll in classes at their own expense to advance their cumulative grade point average to the minimum SAP standards. After successfully obtaining the minimum SAP standards, according to the classification level, students may be reinstated or considered for financial assistance for the upcoming terms. It is the student s responsibility to notify the Financial Aid Office of an advanced cumulative grade point average that meets the minimum SAP standards within the allotted time frame for awarding aid for the upcoming term. Questions regarding financial aid should be directed to the Financial Aid Office at or faxed to

19 NSU Financial Aid Guide 18 WITHRAWAL INFORMATION The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a semester. The Federal Title IV financial aid programs must be recalculated in these situations. Title IV funds include Pell, FSEOG, Perkins Loans, Direct Subsidized, Direct Unsubsidized, and PLUS loans. If a student leaves the University prior to completing 60% of a semester, the Financial Aid Office recalculates eligibility for Title IV funds. Recalculation is based on the percent of earned aid using the following Federal Return of Title IV Funds formula: Percent of aid earned = the number of days completed up to the withdrawal date, divided by the total number of days in the semester. (Any break of five days or more is not counted as part of the days.) The University may be required to return a portion of the funds, and the student may be required to return a portion of the funds. Keep in mind that when the Title IV funds are returned, the student may owe a balance to the University. If that is the case, the student should contact the Student Accounts Office to make arrangements to pay the outstanding balance.

20 NSU Financial Aid Guide 19 FINANCIAL AID PROGRAMS Programs Eligibility Award Amount Pell Grant Supplemental Educational Opportunity Grant (SEOG) Teacher Education Assistance for College and Higher Education (TEACH) Grant Awarded to undergraduate students who have not earned a bachelor's or a professional degree and are enrolled in at least one credit hour. Recipients must be a U.S. citizen or eligible nonresident. The student must meet and maintain SAP. Recipients must be Pell Grant eligible and have exceptional financial need. The student must meet and maintain SAP. Recipients must be a US citizen or eligible non-citizen enrolled as an undergraduate, post-baccalaureate or graduate student and taking coursework necessary to begin a career in teaching. Recipients must sign a TEACH Grant Agreement to Serve. The student must meet and maintain SAP. $588 to $5775 $100-$4000 Up to $3,708 Repayment Required NO NO NO Virginia Commonwealth Award Virginia Guaranteed Assistance Program (VGAP) Recipients must be a Virginia resident, enrolled at least half-time in an undergraduate degree-seeking program, and demonstrate financial need. The student must meet and maintain SAP. Recipients must be a Virginia resident, and graduate of a Virginia high school, classified as a dependent student, enrolled full-time in a degree-seeking undergraduate program, demonstrate financial need, and have at least a 2.5 cumulative high school GPA. Renewing students must maintain a 2.0 cumulative GPA. The student must meet and maintain SAP. Not to exceed $5970 Tuition & Fees Not to exceed $8240 Tuition, fees, books/supplies NO NO Federal Work-Study Recipients must be U.S. citizens or Permanent resident or eligible non-citizen, enrolled at least half-time in a degree-seeking program, and have financial need. The student must meet and maintain SAP. $500 - $4400 Work NSU Student Employment Program Federal Perkins Loan Recipients must be enrolled at least half-time in a degree-seeking program. The student must meet and maintain SAP. $500-$4500 Work Recipients must be U.S. citizens or permanent residents, enrolled at least half-time in a degree-seeking program, and have financial need. The student must meet and maintain SAP. Up to $5500 (Undergraduate) Yes William D. Ford Direct Student Loan (Subsidized) William D. Ford Direct Student Loan (Unsubsidized) PARENT PLUS Loan Alternative/Private Loans Graduate PLUS Loan Recipients must be U.S. citizens or permanent residents, enrolled at least half-time in a degree-seeking program, and have financial need. The student must meet and maintain SAP. Recipients must be U.S. citizens or permanent residents, enrolled at least half-time in a degree-seeking program, and have financial need. Borrower must be the parent of a dependent student. Loan approval is based on a borrower s credit history. Student must be enrolled at least half-time and degree seeking. Borrower can apply through a private lending institution. Criteria varies with the lending institution. These loans are credit base and may require a co-signer. Borrower must be a graduate/professional student, enrolled at least half-time in a degree-seeking program. Loan is credit base. Maximum amounts per academic year. $3500 (0-30 Credits) $4500 (30-60 Credits) $5500 (61+ Credits) $5500 (91+ Credits) Maximum amounts per academic year. $4500 (0-30 Credits) $4000 (30-60 Credits) $5000 (61-90 Credits) $5000 (91+ Credits) $20500 (Graduate) Up to the cost of education Up to the cost of education Up to the cost of education Yes Yes Yes Yes Yes

21 NORFOLK STATE EMERGENCY STUDENT LOAN PROGRAM NSU Financial Aid Guide 20 Norfolk State University provides a limited amount of undergraduate and graduate emergency loan monies. Undergraduate students with a cumulative 2.5 grade point average or higher (2.7 for new freshmen) can apply. The minimum amount is $100 and the maximum amount is $1,000, depending on domicile. Graduate students must have a grade point average of 3.0 or higher. The minimum amount they can borrow is $100 and the maximum amount is $1,500. Students must apply and agree to the terms and conditions in order to be considered for and to receive the loan. By signing the application and Promissory Note, the student acknowledges and agrees to repay the loan in full by the end of the semester in which the loan is received. The purpose of the Emergency Loan Program is to assist students with tuition, fees, books, supplies or other expenses necessary to continue their education. These funds are provided by Norfolk State University and must be paid back by the end the semester in which it was awarded and accepted. Emergency Loan repayments are recycled at the end of each semester so that they can be reused for the upcoming semester to assist additional students. It is important to pay back these funds in a responsible and timely manner so that students in the future may be able to borrow from this program. Unpaid Emergency Loans restrict the Financial Aid Office s ability to assist students in need. Failure to pay back these funds will result in registration and transcript blocks. Failure to repay may jeopardize your credit standing and uncollectable funds may be reported to a collection agency. For additional information on the Emergency Loan Program or to obtain an application, please refer to the Financial Aid website at: nsu.edu/financial-aid/forms. Applications are accepted during normal business hours as stated in the application.

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